20 Dec 02. Raytheon Company (NYSE: RTN – News) announced today two acquisitions that will strategically strengthen its portfolio of integrated communications technologies used across its missile defense, intelligence, surveillance and reconnaissance, precision strike and homeland security strategic business areas. The Company announced an agreement to acquire the Solipsys Corporation based in Laurel, Md. Solipsys is a privately held software company specializing in Department of Defense integration software. The transaction is expected to close during the first quarter of 2003 subject to regulatory approvals.
The Company also has acquired JPS Communications, Inc. (JPS) located in Raleigh, N.C. JPS is an innovator in key communications interoperability technologies used in civilian government command and control networks. JPS was privately held. The terms of this transaction were not disclosed.
“Our strategy is to make niche, tuck-in acquisitions to strengthen our already capable portfolio of businesses that will not stress our balance sheet. The capabilities of these two companies will enhance capabilities in all four of our strategic business areas,” said Daniel P. Burnham, Raytheon chairman and chief executive officer.
“Solipsys’ expertise in data fusion, data distribution and display, and modeling and simulation will strengthen our product lines and our ability to achieve success in a very competitive marketplace,” said William H. Swanson, Raytheon president and chief operating officer.
Swanson added, “JPS’s unique technologies allow interoperability among agencies such as police, fire, and hospitals with dissimilar communications equipment without requiring replacement of their complete infrastructures. These capabilities also apply to our military customers by helping bridge the interoperability gap among the US services and our joint coalition forces. Raytheon’s global presence and system integration capabilities will also provide greater opportunities to apply JPS technologies in turnkey infrastructure projects such as statewide networks, power plants and even high schools.”
These acquisitions are the first for Raytheon since 1998.